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Many classic cars are expensive, highly desirable and might even be a cherished collectible, so if you own one, you’ll want to make sure it’s adequately protected. Classic car insurance, or heritage car insurance as it’s also known, is designed to do just that. It’s a specialist policy that protects vintage vehicles against theft and damage.
Classic car insurance is a type of car insurance policy designed to cover older cars that are typically driven less frequently and are usually used for leisure purposes, rather than commuting.
There’s no definitive age that makes a car ‘classic’, but as vehicles that were built or registered more than 40 years ago are exempt from vehicle tax, this is often used as a guide.
That said, according to HM Revenue and Customs (HMRC) a car is counted as classic if it’s:
On top of this, insurers will have their own definition of a classic car, which will depend on the vehicle’s age, make and model, so it’s important to check this when you’re comparing quotes.
Classic car insurance works in a similar way to standard car insurance, but there are some key differences. Some classic car insurers will require drivers to be at least 25 to 30 years old, compared to the 17 or 18 years required for a standard policy. Many classic car insurance policies will also include certain restrictions or limits – for example, your insurer might impose an annual mileage limit, which means you shouldn’t exceed this cap without first informing your provider. Always check this limit when you compare policies to ensure you’re happy with it.
In some cases, your insurer will ask you to commit to an agreed valuation before you take out a policy. This means the insurer will pay out a pre-agreed amount (minus the excess) if your car is written off or stolen, instead of the market value. This can be a good choice if your car is worth more than the average for a car of that age or model. However, you might have to pay more to add this option to your policy.
Overall, classic car insurance is often cheaper than other car insurance policies because the provider will assume you drive fewer miles in that car compared to a regular car (as classic cars don’t tend to be used for daily commutes or driving to the shops). Classic car owners also tend to take better care of their vintage vehicles and often store them in a locked garage, making them more secure. This reduces the chance of you making a claim on your insurance, which means insurers usually charge lower premiums.